For Week Ending February 14, 2015

As we hit February, mortgage rates continue to remain low, bringing about a high dosage of optimism to the market. While some reports attempt to dissect drops in builder confidence with a negative-bent attitude, low rates seem prepped to steer potential buyers toward getting their own set of house keys, curbing the pessimism of market naysayers.

In the Twin Cities region, for the week ending February 14:

• New Listings increased 12.1% to 1,298
• Pending Sales increased 15.6% to 920
• Inventory decreased 3.7% to 12,410

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 7.5% to 100
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

For Week Ending February 7, 2015

Nationally, housing starts are off to a good start in 2015, with new projects ahead of last year at this time. Before the confetti cannons come out, this doesn’t necessarily mean that sellers can start asking more and that buyers will immediately have more to choose from. But this does bode well for increased confidence throughout the residential real estate marketplace. Balance means a lighter ebb and flow of various market metrics rather than astronomical gains and losses. This is positive.

In the Twin Cities region, for the week ending February 7:

• New Listings increased 25.4% to 1,496
• Pending Sales increased 14.3% to 881
• Inventory decreased 5.1% to 12,104

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 8.6% to 101
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

The U.S. economy continues on its journey upward. Not only have gas prices hit multi-year lows, but wages have experienced gains not seen since 2008. As the year picks up steam, and whether you hang out with the bears or bulls of market recovery prognostication (not Chicago sports teams), one cannot deny that the economy is in a more stable position than it has been in years.

In the Twin Cities region, for the week ending January 31:

• New Listings increased 8.5% to 1,012
• Pending Sales increased 16.0% to 886
• Inventory decreased 5.6% to 12,202

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 7.5% to 100
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Up, down and all around, mortgage rates and regulations will likely be hot topics this year. Rates should stay low through 2015, but consumers and finance experts believe we’re at or near rate bottoms. The implication of low rates should be that more people will be able to reach homeownership status in the coming year, but it will be interesting to see if regulatory standards loosen up or tighten further based on buyer demand.

In the Twin Cities region, for the week ending January 24:

• New Listings increased 15.8% to 1,058
• Pending Sales increased 3.1% to 675
• Inventory decreased 6.4% to 12,149

For the month of December:

• Median Sales Price increased 5.2% to $200,000
• Days on Market increased 3.5% to 89
• Percent of Original List Price Received decreased 0.6% to 94.1%
• Months Supply of Inventory increased 3.4% to 3.0

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

New Year’s resolutions may have already faded out, but the housing market is just getting started. Even though it may take a while for new trends to emerge, the housing crisis that was a bear a few years ago has been making mostly positive gains as of late. The common thought is that this will be another year of recovery and further stabilization. Onward and upward it is.

In the Twin Cities region, for the week ending January 17:

• New Listings increased 8.3% to 1,073
• Pending Sales increased 14.6% to 668
• Inventory decreased 6.8% to 12,027

For the month of December:

• Median Sales Price increased 5.2% to $200,000
• Days on Market increased 3.5% to 89
• Percent of Original List Price Received decreased 0.6% to 94.1%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Some goodbyes are easier than others. As we bid farewell to the economic uncertainties of 2014, all eyes are fixated on what 2015 might bring. The economy – specifically job growth – picked up steam in the second half of the year, and that should continue. Housing performed reasonably well, but some metrics didn’t improve as much as in 2013. The new year should bring new listings, new inventory and new buyers to the marketplace.

In the Twin Cities region, for the week ending January 10:

• New Listings increased 7.1% to 1,030
• Pending Sales increased 17.8% to 642
• Inventory decreased 6.1% to 11,999

For the month of December:

• Median Sales Price increased 5.2% to $200,000
• Days on Market increased 3.5% to 89
• Percent of Original List Price Received decreased 0.6% to 94.1%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Ye olde 2014 data will likely be retrospective analysis for the next few months, but 2015 is already stirring up rumors of potential trends as we charge into the new year. The buzzworthy hot topic, low interest rates, should keep bolstering home sales as it is speculated to become a friendlier market in the coming year for many types of buyers.

In the Twin Cities region, for the week ending January 3:

• New Listings decreased 18.6% to 551
• Pending Sales increased 9.1% to 553
• Inventory decreased 4.0% to 12,821

For the month of December:

• Median Sales Price increased 5.2% to $200,000
• Days on Market increased 3.5% to 89
• Percent of Original List Price Received decreased 0.6% to 94.1%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

It is typically during the final weeks of a calendar year when residential real estate activity hits its seasonal lows, even when some year-over-year comparisons show progress. Don’t be fooled by this time of year. Buyers and sellers are preparing for promising spring and summer markets. Of late, the spring market tends to get hopping before the -ary months are even complete.

In the Twin Cities region, for the week ending December 27:

• New Listings decreased 13.5% to 268
• Pending Sales decreased 9.8% to 359
• Inventory decreased 4.4% to 13,152

For the month of November:

• Median Sales Price increased 5.1% to $205,000
• Days on Market increased 5.3% to 79
• Percent of Original List Price Received decreased 0.7% to 94.7%
• Months Supply of Inventory increased 8.8% to 3.7

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Even though interest rates remain low, there is talk of homeownership numbers being at 20-year lows. Tight lending restrictions may be partly to blame for the dip in the number of people flocking to buy a home. A turnover of the trend could be possible in the new year, but during the weeks surrounding the big winter holidays, we all tend to have to play the wait-and-see game.

In the Twin Cities region, for the week ending December 20:

• New Listings increased 6.1% to 592
• Pending Sales decreased 1.3% to 689
• Inventory decreased 4.4% to 13,698

For the month of November:

• Median Sales Price increased 5.1% to $205,000
• Days on Market increased 5.3% to 79
• Percent of Original List Price Received decreased 0.7% to 94.7%
• Months Supply of Inventory increased 8.8% to 3.7

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

We have reached the time of year when year-to-date and rolling 12-month time calculations become especially reliable. Buyer and seller activity continues at a decent clip, though generally lower than the spring and summer selling seasons. With the price of gasoline where it is, holiday spending should be strong, which benefits the economy and is, therefore, also good for housing. There’s plenty to be cheerful about this December.

In the Twin Cities region, for the week ending December 13:

• New Listings decreased 12.9% to 661
• Pending Sales increased 6.6% to 679
• Inventory decreased 2.7% to 14,268

For the month of November:

• Median Sales Price increased 5.1% to $205,000
• Days on Market increased 5.3% to 79
• Percent of Original List Price Received decreased 0.7% to 94.7%
• Months Supply of Inventory increased 8.8% to 3.7

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.